ENN Energy Holdings, a supplier of natural gas and other clean energy products in China, has become the fourth Asian company in two weeks to tap the equity-linked market.
The company last night sold $500 million of convertible bonds in a deal that was pretty similar to the slightly larger $503 million CB printed by Shanghai Industrial on January 16.
The two Hong Kong-listed companies have a similar market capitalisation and were viewed to be fairly equal in terms of credit quality. As a private-sector company, ENN Energy doesn’t have the same backing as Shanghai Industrial, which is a state-owned enterprise, but sources said it makes up...
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